I hope this story gets out because it is importtant and shows where repubs truly are on Financial Reform.
Jump...
I do not have lots of time to go into this but thought story spoke for itseelf!!!
SEC Said to Vote 3-2 to Sue Goldman Sachs Over CDOs (Update1)
By Jesse Westbrook
April 19 (Bloomberg) -- The U.S. Securities and Exchange Commission split 3-2 along party lines to approve an enforcement case against Goldman Sachs Group Inc., according to two people with knowledge of the vote.
SEC Chairman Mary Schapiro sided with Democrats Luis Aguilar and Elisse Walter to approve the case, said the people, who declined to be identified because the vote wasn’t public. Republican commissioners Kathleen Casey and Troy Paredes voted against suing, the person said.
The SEC on April 16 accused Goldman Sachs, the most profitable company in Wall Street history, of creating and selling collateralized debt obligations in 2007 tied to subprime mortgages without disclosing that hedge fund Paulson & Co. helped pick the underlying securities. Goldman Sachs also didn’t disclose to investors that Paulson was betting against the securities, the SEC said.
The decision shows Schapiro, a political independent, moved forward in accusing New York-based Goldman Sachs of fraud in the face of resistance from not only the company but her fellow commissioners. It’s the second time this year Schapiro has cast the deciding vote on a high-profile case without Republican support as she sided with Democrats to approve a $150 million settlement with Bank of America Corp. tied to its takeover of Merrill Lynch & Co.
SEC spokesman John Nester declined to comment...
http://www.bloomberg.com/...
I hope this gets played over and over because the country needs to know where these people stand!
Sorry but have to go will check back when i can